question archive Company ordered parts costing 100,000 baht for a foreign supplier on May 12 when the spot rate was P0
Company ordered parts costing 100,000 baht for a foreign supplier on May 12 when the spot rate was P0
Subject:AccountingPrice: Bought3
Company ordered parts costing 100,000 baht for a foreign supplier on May 12 when the spot rate was P0.24 per baht. A one-month forward contract was signed on that date to purchase 100,000 baht at a forward rate of P0.25 per baht. On June 12, when the parts were received and payment was made, the spot rate was P0.28 per baht. At what amount should inventory be reported?
